§ 2-188. Maturity restrictions; use of investment manager.

Latest version.

(a)

Maturity restrictions may be set by the board based upon the village's cash flow needs.

(b)

If an investment manager is used:

(1)

The criteria for selection may be established by the mayor and board.

(2)

His performance may be measured by an index.

(3)

The funds shall be held by a custodian bank with duties and obligations as established by the mayor and board.

(4)

His performance may be evaluated periodically by an investment consultant selected by the mayor and board.

(Code 2004, § 27.7)

                    
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